In the process they gutted the second story and took out the stairs and the apartment above.

This property needs a new roof and some more reserves.....In 2020, I purchased a 2nd home to gut rehab.

Typically you wouldnt want a newbie doing your work...unless they have their ducks in a row and you listen to your gut.3) Is the GC insured with enough coverage?

Rehabbed the kitchen and fully gut of the bathroom What was the outcome?

Medium grade renovations on the inside of both units, but not a full gut.

Relax and enjoy your imaginary wine while they gut out the house for you!

My gut says they won't as they have probably been through this before with other property owners/managers based on how they act and they probably know they are getting a solid deal but sometimes it takes laying out to snap people back into reality. 

Did a complete gut job and decided to keep it for a season to enjoy as a vacation home at the beach.

All the clients did some rehab to though like gut kitchen/bath and paint nothing crazy but doing this gets the rents way up so you do need to have a decent bit of capital. 5% down rather then 3.5% down also.

The project will be a full gut remodel.